A Decrease in the Expected Inflation Rate Shifts the Short-

question 403

Multiple Choice

A decrease in the expected inflation rate shifts the short- run Phillips curve

• A) upward and creates a movement upward along the long- run Phillips curve.
• B) downward and shifts the long- run Phillips curve leftward.
• C) downward and creates a movement downward along the long- run Phillips curve.
• D) upward and shifts long- run Phillips curve rightward.

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